Everyone took last year’s election as a mandate for one party over the other, but it really was a mandate for an economic revolution. Is the government capable of re-inventing itself? Of innovating?
We can look at other examples, like big companies. There has been a lot discussion of whether or not big companies can innovate. I've seen some do it, but not many. Does that answer the question? Kind of.
What is the biggest inhibitor to innovation? Success! So many of my clients have been both blessed--and cursed--with success, even in this recession, that it’s skewing their perspective of the future.
They are sitting on a lot of cash that they are hoarding...for lots of reasons (like fear of a double dip, etc.). But now is the time to really innovate - to disruptively innovate.
For most of them, the amount of money it would take to experiment, to prototype, to try some things is insignificant compared to what they have in the bank. This may be, for some, the least financially risky time to innovate - financially, not culturally. Culturally, the risk is huge!
They say to themselves, look at how we're doing despite the economy, we must be doing something right! And they were/are...but not for that long. For many their R&D and innovation pipelines are two or three years out max.
Let's look at some who didn't innovate. Remember Wang? DEC (Digital)? The original AT&T (bought out by the kids it spun off)? Hey, Smith Corona? Yahoo!? Blockbuster? In fact, ‘netflixed' is a now a verb! And Blockbuster even says they saw it coming but didn't really heed the warning signs.
Then there are those that were able to reinvent themselves. P&G, IBM, Ford, Apple. What was the difference? People. Management. New leadership (in the case of Apple, original leadership returning) brought in new insights, were not entrenched in the groupthink and were able to see and start the turn-around.
But this isn't easy nor is it typical. I've had the privilege to work with a few companies that have been able to do this, but again, it's due to very special people. Check out one that still amazes me - Menasha Packaging .